Hearing whispers that you may receive a $1,080 offset in your 2019 tax return? 💸
Before you plan that shopping spree, make sure you know your entitlements.
For example,
❓Does your annual taxable income exceed $90,000 but is less than $126,000? You will be eligible for the maximum low and middle income tax offset of $1,080.
❓Is your taxable income less than $90,000? The amount of the offset is reduced depending on your income bracket.
The ATO provides guidance on how much you can expect to receive, as well as when and how it is paid via their website.